Zambia: State treads cautiously on Zamtel

musokotwaneTHE Government will ensure that the 75 per cent shares in Zamtel are sold to an equity partner capable of improving the companys operations and maintaining the workforce.

Finance and National Planning Minister, Situmbeko Musokotwane (pictured) said the Government had not stopped any Zambian firms from buying Zamtel majority shares provided they were financially sound and able to run the company effectively.

Dr Musokotwane said in an interview in Lusaka yesterday that the Government was cautious to whom it would sell the shares to avoid a repeat of what happened in the past in other privatised companies where the partners failed to run the firms.

The minister said once the shares were advertised, those who felt that they were able to run Zamtel should bid and that they would be scrutinised.

We are committed to seeing to it that we find a partner who will be able to sustain the company and avoid any job losses. It is for this reason that we are cautious on whom to sell the shares to, he said.

He said the Government would be happy to have a Zambian firm be able to run Zamtel effectively and make it financially sound as that was the way of empowering the locals.

Dr Musokotwane said people who thought that they were capable of running Zamtel should take interest and bid instead of complaining through the media.

The Government, he said, would ensure that only viable and genuine investors were given the opportunity to run the telecommunication company and able to turn it around.

Times of Zambia

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